Stumped on formula

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I run a report out of our Accounting system and it has the store number included in the account number, along with what we refer to as our Sub Project number (example: NS 0046 - AE). I am trying to add a formula to Sub Project column to result in the Sub Project number (Example: row 1 = AE, row 2 = CONST). Is that possible or just wishful thinking on my part?

Thanks!

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